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The Convenire 24/7 Store
Transcript of The Convenire 24/7 Store
Convenire 24/7 Store is a start-up convenience store and coffee shop fulfilling a need that will continue to exist into the future. Convenire Store is a 24 hour convenience store providing its customers and consumer’s quality and affordable products. What makes it unique from any other convenience store is that it has a coffee shop wherein students, employees and even night shift workers and commuters can relax while indulging their drink. Convenire will be base in the heart of the city making it accessible and convenient for everyone.
Direct Cost of sales
Total Cost of Sales
TOTAL Income before Tax
Income Tax 32%
According to Pizza (2010), Convenience is in the eye of the beholder. And by being a convenience store with a coffee shop, we are mainly focused on the customers located within a close proximity of the Convenire Store.
Students and workers do not want to travel distances between their classes and works just to buy their necessities. We will be able to facilitate their needs at a great convenience, while still provide exceptional quality. We also offer coffee and a place to sit down and relax while eating their snacks bought inside the store. And there are also tourists that travel to look for unique stores at a location. And our store will pride itself for being the first convenience store here in Mindanao that has a coffee shop in it. And aside from the customer's benefits, as the store grows, it helps decreases the unemployment rate.
The market will vary greatly based on some factors. Summers will tend to decrease the customer base of students as many choose not to attend school during this time. Depending on the climate, sunshine in the summer and the number of tourists can vary. It will be important to recognize upcoming seasonal patterns and plan accordingly.
How to operate:
Our store is basically operates 24/7 to assess the needs and satisfaction of our loyal customers, Even if it’s night or day or rain or shine.
Studies have shown that most customers to a convenience store are 18-35 years of age and male. This has led others to focus on females and individuals who are over 55 years of age.
This will provide a strong local clientele and a new tourism because The Convenire 24/7 Store is being located near the University of Mindanao Campus, Ateneo and ACLC College many students will find it as a resourceful break to their busy days. Also, travel time from local nearby businesses is minimum compared to other convenience stores and ice cream parlors.
Source of Materials:
We purchase our products from the leading manufacturers and from other suppliers that produces RTW’s for our basic clothing stocks to ensure the genuine and the good quality of the products that we sell.
Products and Services
The Convenire 24/7 Store will be offering many products and services such as Wi-Fi. Some of these are:
• Coffee bar /Soda Fountain
• Ice cream
• Magazines, newspapers, and other reading material
• Personal Goods
• Beverages and other highly-purchased goods.
• Basic clothing such as underwear.
• Cellular load/Internet load.
Factors of Production:
Land – The store is located at the heart of Davao city, in where we can share and provide our service more and offer our products to the market. Especially Davao is an abundant city which gives a grate potential customer and will also result into grate high profit.
Labor- Initially the convenience store will only have a small staff including upper management, an operations manager and office manager. All other services, such as bookkeeping will be outsourced.
Capital- Funding for the enterprise will came from a combination of owner investment and bank funding. The main cost of start-up will be the inventory.
Entrepreneurial Skills- Special skills in good customer Service in the management are highly emphasized and practiced.
The Convenire 24/7 Store will operate under the owners, are the owners/managers in different departments. With many years of experience in the retail and food channels, they, understand the fluctuation in market demands. Also, they had resided in Davao for the past 15 years, cultivating an understanding for the local market. They had a Bachelor's degree from University of Mindanao.
At start-up there will be 4 other employees, this will be increased as the market shows demand for more assistance. All employees will answer directly to Ms. Chiradee Balate as the appointed human resource manager. By having smaller shifts, this will also save in the compensation needed for employees, such as insurance.
The Convenire 24/7 Store will be located in the heart of the city near hospitals, universities and establishments. We have realized the convenience needed by students and employees in the area, The Convenire 24/7 Store will provide basic goods needed for daily functions at school and the workplace. Whether basic office supplies, personal goods, or other necessary goods, The Convenire 24/7 Store will have ample supply at a low cost to the customer.
The Convenire 24/7 will also offer a variety of quick, nutritious foods for breakfast, lunch, and dinner. Along with basic staple foods, there will be a deluxe coffee bar, soda fountain, and ice cream parlor. All Products will be locally and nationally branded such as Frito-Lay, Coca-Cola, Jolly Green Giant, Charmin, Stouffer’s, etc .But it will also sell clothings,underwears,cellular/internet load and etc. making it more like a one stop shop .Unlike other convenience stores, you will have the option to peruse the store without hurry or discomfort. A few tables and a counter with bar stools will be established for those who wish to take a break. This will help to meet the customer's needs for goods and still provide some relaxation to their day.